Global Partners LP (NYSE:GLP) Shares Bought by NBW Capital LLC

Key Points

• NBW Capital LLC increased its stake in Global Partners LP (NYSE:GLP) by 50.5% during the first quarter, owning 78,613 shares worth approximately $4.2 million.
• The energy company announced a quarterly dividend of $0.75 per share, maintaining a high yield of 6.0% for investors.
• Global Partners reported quarterly earnings of $0.36 per share, significantly exceeding the consensus estimate, although revenue fell short of expectations at $4.59 billion.

NBW Capital LLC boosted its position in shares of Global Partners LP (NYSE:GLP - Free Report) by 50.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,613 shares of the energy company's stock after purchasing an additional 26,388 shares during the period. NBW Capital LLC owned approximately 0.23% of Global Partners worth $4,196,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. US Bancorp DE boosted its stake in Global Partners by 42.9% during the first quarter. US Bancorp DE now owns 2,037 shares of the energy company's stock worth $109,000 after buying an additional 612 shares during the period. Inspire Advisors LLC purchased a new position in Global Partners during the first quarter worth about $216,000. Silverberg Bernstein Capital Management LLC purchased a new position in Global Partners during the first quarter worth about $222,000. XTX Topco Ltd purchased a new position in Global Partners during the fourth quarter worth about $302,000. Finally, Marcum Wealth LLC purchased a new position in Global Partners during the first quarter worth about $356,000. 38.12% of the stock is owned by hedge funds and other institutional investors.

Global Partners Trading Up 0.0%

GLP stock traded up $0.02 during mid-day trading on Friday, hitting $50.27. 80,224 shares of the company were exchanged, compared to its average volume of 30,528. The company has a quick ratio of 0.68, a current ratio of 1.17 and a debt-to-equity ratio of 2.69. The firm has a market capitalization of $1.71 billion, a P/E ratio of 19.33 and a beta of 1.02. The business has a fifty day simple moving average of $52.67 and a 200-day simple moving average of $52.83. Global Partners LP has a 12-month low of $37.00 and a 12-month high of $60.00.

Global Partners (NYSE:GLP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The energy company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.05). Global Partners had a net margin of 0.64% and a return on equity of 17.77%. The business had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $5.98 billion. On average, equities research analysts predict that Global Partners LP will post 2.13 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 8th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, August 8th. This is a positive change from Global Partners's previous quarterly dividend of $0.75. This represents a $3.00 annualized dividend and a dividend yield of 6.0%. Global Partners's payout ratio is 94.60%.

Insider Activity at Global Partners

In other news, COO Mark Romaine sold 7,119 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $51.28, for a total value of $365,062.32. Following the completion of the transaction, the chief operating officer owned 150,412 shares of the company's stock, valued at approximately $7,713,127.36. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 18,000 shares of company stock valued at $944,221 over the last ninety days. Company insiders own 41.50% of the company's stock.

About Global Partners

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.